Tag: innovations

  • Heritage Bank partners CeLD Innovations on Cashtoken

    Heritage Bank Plc has partnered with CeLD Innovations to launch CashToken, a consumer electronic reward system into the Nigerian economy. The product was launched at the Hyper Consumer Centricity conference held at the Lagos Continental Hotel, Victoria Island, Lagos with top 500 Nigerian CEOs in attendance.

    Speaking at the ceremony, Executive Director of Heritage Bank, Jude Monye, said CeLD is a very innovative organisation that is committed to bringing new innovation to the Nigeria’s economy to enable discerning companies to reward their customers.

    “We are at Heritage Bank believe in it, because we believe in trail blazing, which is our forte and our forte is innovation,” Monye said.

    The CashToken is an electronic reward and celebratory gift commodity, which costs only N30.00 and it, is aimed at making every patronage or celebratory gift a life-changing cash opportunity. The chairman of the occasion, Mr. Leo Stanley Ekeh said innovation in the third world comes with pain before pleasure, adding that “we are in an innovation century that the poorest man in the world will become the richest because of the power of digitizsation.”

    Mr. Lai Labode, Founder & CEO of CeLD Innovations said the company is the world’s first cash reward as a service company which has established a robust technology and business model that herald a new era of hyper consumer centricity.

    He said they are pioneering a performance based system designed to optimise consumer loyalty investments for businesses, celebratory gift value optimisation and public emotional equity for government.

    Labode said about N20 billion would be offered in the next three years of full operation of the fund; which is managed by Vetiva Capital Management, Nigerian Stockbrokers Limited and First Ally Capital.

  • 2018: Year of promise, innovations

    2018: Year of promise, innovations

    2017 was a mixed grill for players in the creative sector. In this report, they recount their experiences as they look forward to a more thriving 2018, writes EVELYN OSAGIE.

    The curtain may have fallen on  2017, but its memories linger in the minds of industry players in the creative sector.

    Diverse creative events marked the year, with many of its players breaking new grounds. Still, not all would call the year pleasant.

    In this piece, scholars, gallery and theatre owners, artists, poets, novelists and playwrights recount their experiences in 2017 and projections for the New Year. They include literary and Arabic scholar and novelist Prof Kole Omotoso; veteran artist, Chief Muraina Oyelami; artist and professor of Art  Historian Peju Layiwola and Prof Ahmed Yerima; artist/owner of GreenHouse Art Empowerment Centre in Olambe, Ogun State, Princess Theresa Iyase-Odozi. Others are artist and the current director of the Harmattan Workshop, Sam Ovraiti; founder and Executive Producer of the Thespian Family Theatre & Productions, Ayo Jaiyesimi; oil and gas lawyer and poet, Ms Donna Ogunnaike; artist and founder of LENS Talk Academy, Yemi Royal, and novelist Obinna Udenwe.

    To survive 2017, I did everything I said I’d never do – Prof Omotoso

    2017, like years before, was harsh in the way simple things are harsh mainly because of unpunished corruption, unpaid employ-ment and reality and pomposity of trailers on our bad roads. It is against this background that I continue The Travels of Trouble in the Sunday Guardian and trying to write a novel The Book of Change.

    To survive, I have done everything I said I would never do: buy generators, sink borehole, rent security, be a one household local government. Projection for this year is more of the same recurrent cycle/circle of Nigerian stupidity. Answers to living problems are not available to Nigerian powers that be. And don’t even mention prayers. Personally I want to finish this novel, that’s all I pray for.

    2017 was an eventful year – Chief Oyelami

    The year was eventful. A travelling Exhibition of 50 Years of Osogbo Art sponsored by Centre for Black Culture and International Understanding (CBCIU) was mounted in Osogbo, Abuja and Wilmington Delaware in the United States.  Also, it afforded me the opportunity of participating in international shows like the last Lagos Art X that featured some of my recent works.

    As an active practitioner who has been working for over 50 years, God has continued to give me the needed creative energy to love and continue my practice with harmony and peace.  My big dream of having a visual and performing arts institute in Iragbiji, where young and potentially talented artists would be trained, is now becoming a reality. The Abeni Institute of Visual and Performing Arts would soon take off, where Aso-Oke weaving, batiks, drumming and drum-making will feature in our programmes. We hope to take-off during the first quarter of the year, God willing.

    It was a milestone for me – Prof Layiwola

    2017 was a great year for me.  It was, indeed, very fulfilling.  It was a milestone for me as I attained the zenith of my profession in the visual arts.  This elevation fulfils a lot for me and the profession. It provided me with the opportunity of having several international conversations about art.  In terms of the Women and Youth Art Foundation, it was a time for taking stock both at the personal level and also at the level of community engagement. We celebrated art within the community as we marked   13 years of our commitment to using the visual arts as a transformative agent in disadvantaged communities. We also raised a formidable team of volunteers who helped continue our project in taking art back to public schools in Lagos State. 2018 promises to be a more fulfilling year. I hope to consolidate on the work done in previous years.  New projects will be unveiled this year and  I am hopeful for the possibilities that it presents.

    2017 was a good year for me as a playwright – Prof Yerima

    2017 was a good year for me as a playwright. I wrote four plays – Iyase, Pari, Odenigbo and Drugga. These plays reflected the kind of literature my immediate-society demanded from me. Society itself provided the materials because of its organic nature. For thematic relevance and connect I felt fulfilled as a playwright. As I advance in age, and the volatile nature of the security of my country, I was more calculated in terms of fund expenditure, personal desires and needs and self preservation, I was generally careful about budget planning and what my movement capabilities were. The social condition in a near dysfunctional society as 2017 was, demanded caution from the individual. 2018 seems to be a good year. More issues of society will serve as materials for the concerned writers.  Hopefully production opportunities for the literary works we create will come. Again I pray for the Muse of creative to flow. I have finished my first 2018 play, Hendu which is based on the Fulani herdsmen crises. The Nigerian writers must learn to build coalition with society that needs such works. The works must first, project the anxiety of their immediate society. And second, the angst and expectations of society must be projected. Most of all, I hope 2018 will provide avenues for funding, because no writer writes well on an empty stomach. Good luck all. I wish us all a happy new creative and productive 2018.

    Development of the Berger-Ojodu-Olambe-Ijoko roads will improve art patronage – Princess Iyase-Odozi

    With respect to GreenHouse Art Empowerment Centre, Olambe in Ogun State, the gallery was on the quiet side for several reasons, which include the following: dearth of qualified art-oriented staff; the poor state of our roads and ensuing traffic congestion, particularly during the rainy season. This led to mass relocation of many residents who work in Lagos and, consequently, reduced patronage of our activities; the lack of external support, both financial and material, for our programmes, thereby limiting their coverage and frequency. Although our centre operated at a low tempo for most of the year, we kept it open to the public.

    Also, towards the end of the year, we had a public lecture based on the Grail Message and hosted many guests. We were able to survive by right-sizing the staff complement and embarking on various cost-saving initiatives, particularly power consumption.

    But an artist art comes to me as the air I breathe in and has become my life and world. I live art, think art and do art. I have no other choice than to do art either through a direct transfer of my ideas on to a surface or through empowering fellow human beings by giving and training. Given the numerous competing engagements that I have to contend with and the limited activities at my disposal, I had to reprioritise and strive to achieve more with less. As an art researcher and practitioner, I periodically carry out a thorough survey of things that need be done and conceptualise and translate my ideas into reality. Such conceptualisation and execution sometimes takes months and even years to accomplish. After my 2015 exhibition entitled: Spiritual Contemplations. I decided to take the next step – in 2017, I embarked on a fundamental shift towards exploring new ways in the world of tie & dye and began preliminary work for a new exhibition under the mentorship of Madam Nike Okundaye of Nike Arts Gallery.  Over the years, my art had been eclectic in style, encompassing historical, mundane, abstract and spiritual dimensions of art.

    We are full of hope and expectations for our country, our local community and, of course, our organisation in 2018! Our optimism is founded on ongoing massive infrastructural development activity both at the federal and state levels. Indeed, we can see infrastructural transformation of the Berger-Ojodu-Olambe-Ijoko roads, which definitely will improve the inflow of visitors and the patronage to the gallery. In short, the tempo of activities in our gallery will depend largely on the progress made in completing this massive road construction project.

    Meanwhile, we plan to organise some empowerment programmes, including soap and cream productions, and particularly textile production and tie & dye. As an artist I am also full of hope and expectations but also a lot of hard work in 2018! My major tasks are to successfully complete my academic research studies at the University of Lagos and concurrently stage an exhibition, based on my research on tie & dye, with Madam Nike Okundaye at the Nike Centre for Arts and Culture.

    2017 was for me a year multiple awards – Ovraiti

    2016 and 2017 were eventful for me as these years saw multiple awards conferred on me by various institutions in recognition on the work I have done in the area of training young and upcoming artists and my contributions in the professional art scene.

    Apart from seizing every opportunity I had to educate artists on the need to let their art be the focus of their attention, I also made sure I got involved in a number of art projects both public and private, in addition to such significant exhibitions that kept my brand above waters. This new year, together with what I call the usual such as art workshops, exhibitions and expanding on my neighbor creativity, what will be on my front burner will be to begin to build my school of professional art practice which is geared at providing the needed resources for artists, both young and old when want to achieve extraordinary success in the area of their professional art practice.

    2017 was a mixed bagJaiyesimi

    2017 was a mixed bag. It was exciting because we broke new grounds and had very well-received productions. However, it was also a year that most companies cut their sponsorship budgets. On strategies adopted: we have some very dependable corporate and individual sponsors who support our aspiration to educate, engage and entertain. We diversified our entertainment services and products and also cut down on production costs by developing in-house capacities in some areas and outsourced some elements, while engaging on a number of collaborations which helped in responsibility, cost and risk sharing. This new year promises to be exciting. We celebrate our 15 years of existence and that is a key milestone. We have assets that have been created, which we would showcase this year; we are working on our second television programme and open our space – The Thespian Könà.  Looking ahead, 2018 should be exciting!

    2017 was a year of growth, boldness for me – Donna

    2017 was an interesting year for me as I was able to implement a crazy idea I had which was to create an experiential experimental art installation during the Lagos Theatre Festival hosted by the British Council. It was a diary which experimented with healing minds through nostalgia using poetry, music, contemporary dance and film. I was afraid it would be treated with scepticism by the audience but it was well received with many positive reviews locally and internationally. We were then selected to present the event at the World Cultures Festival in Hong Kong and were the only Nigerian representative. I was also able to put up a show in Abuja and performed poetry at very many events in Lagos including the Afro Champions Initiatives dinner where President Mbeki, Edo State Governor Godwin Obaseki, and his predecessor Governor Adams Oshiomole and many top executives across all of Africa were present. I did this alongside a hectic work schedule as an Oil and Gas Lawyer and Partner in the Law Firm of ACAS-LAW. I believe 2017 was a year of growth and boldness for me as an artist in both poetry and theatre. It was a hectic but very special year. I learnt how to breathe. I would find quiet places and just let my heart be calm. I also learned very heavily on Mrs. Bianca Odiete, who co-managed both the administrative and logistical aspects of all the events in 2017. A solid support system is necessary and I would not have done it without her and a few others who helped with the heavy lifting. I also sought counselling and would pour out my fears to my parents, Prince and Rev. Mrs. Ogunnaike, my friends (especially Ms. Abiola Adekoya), my partners and colleagues in the firm and Ms. Brenda Uphopho who would not let me give up on the project. No one should have to do it alone, delegation, talking and finding calm in the midst of chaos goes a long way. The experiential and experimental event, Strelitzia, has been curated by the British Council for the 2018 Lagos Theare Festival coming up at the end of February. It is an honour for me that this happened and we are going to be serving people through art. Apart from this I will be executing other projects in the arts, God helping me, so watch out for Donna Ogunnaike; this journey still has a long way to go!

    It was a busy year – Royal

    2017 was very busy for me. I was busy with trainings, busy traveling and busy developing new sets of skills and ideas. For my art, it’s been very tasking. I have been busy sketching and preparing for my next exhibition coming up hopefully in 2018. My strategies are simple. I called it the 3Ps which stand for Passion Persistence and Perseverance. Passion keeps me going, due to the undying love I have for my job. Persistence keeps me afloat and retains my relevance in the industry; while Perseverance gives me the assurance that i will get result in due cause. 2018 is going to be what I call the ‘art year’. A year dominated by photography activities and events. More artist/photographers will be discovered.

    It was big year for me – Udenwe

    2017 was big for me. In January, I took a big decision to overhaul my novel in-progress, which I had been working on for going on seven years. I deleted over 180 pages of the manuscript and started afresh, basically. I changed the story in its entirety and I was delighted I made the decision. It has been provisionally accepted for publishing and I hope that happens this year.

    Last year, I also decided to cut down on the number of short stories I write in a month but to write strong, energetic and poignant stories – even if it’s two or three for the year. And I did accomplish that. So, in all, I would say that I improved the quality of my art in 2017 by making tough decisions and taking bold steps. Only a few artists in Nigeria survive through their craft alone. To survive we engage in other activities but the art also contribute lot. Towards the end of 2017, I submitted stories to different journals of International repute and I look forward to seeing those works published in 2018. I also look forward to seeing them get deserved recognition. I hope to see my novel published this year.

  • GoTV leads in marketing innovations

    GoTV leads in marketing innovations

    GoTV kick-starts pay-per-day

    In the Pay TV sector,  GoTV is leading in terms of marketing inno-vations. The Pay TV platform launched “GoTV Lite” which offers pay-per-day at  the rate of N13. The platform is also currently running #GoTVMax which offers live LaLiga matches. On  October 24, #GoTVwAWU was launched; it offers special channels and rewards to subscribers. The crescendo of GoTV’s brand innovations was on  October 26, when it  brought the European Premier League’s trophy to Lagos. On  October 29, Nigerians were able to sight, touch and take a selfie with the EPL trophy, courtesy of GoTV. It is getting exciting.

     

    Kwese TV builds traction

    However, Kwese TV stole the show with the Nigerian-British Antony Joshua’s victorious boxing match against Cameroonian Carlos Takam, which was aired live on the free-to-air sports Channel of Kwese TV known as Kwese Sports. Nigerians were able to follow the match and the company also live-streamed the boxing match in Sagamu, the hometown of the boxing champion.

     

    TSTV delays operations

    The much-awaited commercial operations of TSTV postponed till November 1 2017 did not begin on that particular day. And fans of the indigenous Pay TV brand took to social media to decry the company’s failure to keep to promises. The social media account of TSTV tried to handle the situation by releasing a statement.

    In the statement, Telecom Satellite Limited, owners of TSTV, said the operations could not commence due to an exercise “to ensure the proper monitoring and evaluation of the signal strength”. The company also explained that “the accreditation of selected dealers is ongoing in addition to the full branding of the dealers’ outlets across the country”. Nigerians who were initially excited about a Nigerian brand venturing into the Pay TV business are expressing their disappointments and worries over the delay of operations.

  • Shell wins SERAs’ CSR  innovations awards

    Shell wins SERAs’ CSR innovations awards

    Shell Companies in Nigeria (SCiN) has won two trophies at the 10th Sustainability, Enterprise and Responsibility Awards (SERAs) in Lagos.

    Known as the Corporate Social Responsibility Awards, SERAs instituted the awards to celebrate companies that have impacted positively in their environments.

    At this edition, Shell Nigeria’s kinetic pitch won in the Innovation Award category, beating seven other nominees. It also won the Best Company in the  Climate Action category, beating five other competitors.

    Shell Nigeria Exploration and Production Company’s (SNEPCo’s) General Manager, Deepwater Production, Effy Okon, led its team which comprised General Manager, External Relations, Igo Weli; External Relations Communications Manager Sola Abulu; Head, Business Relations, Alan Udi; and Social Performance Discipline Adviser Hope Nuka, to receive the awards.

    Twenty-six awards were won by corporate organisations and individuals in recognition of their sustainable development and social investment efforts in Africa, including the President of Botswana, Ian Khama.

    Country Chair, Shell Companies in Nigeria and Managing Director of The Shell Petroleum Development Company of Nigeria Ltd (SPDC), Osagie Okunbor, said: “We are pleased at the recognition of our contributions to the development of Nigeria. Corporate Social Responsibility is an idea, which Shell has given priority, and the company is working to improve its partnership with non-governmental organisations (NGOs), governments and communities to deliver on its promise of developing human and material resources.”

  • StarTimes showcases innovations at fair

    StarTimes is showcasing its  products, such as integrated TV sets, Combo decoder, Projector TV and other devices, at the ongoing 35th Lagos International Trade Fair, which will end on Sunday.

    The brand handlers said customers would still enjoy special discounts on its combo decoder and other products, saying its brand ambassadors were on ground to offer give-aways, and interact with subscribers.

    Its Marketing Director, Dare Kafar, said: ”StarTimes was very excited to showcase its innovative products built with cutting edge technology for the benefits of subscribers and public with exciting discounts at the ongoing trade fair.

    ‘’It promises to be an exciting time at the StarTimes stand as there would be special discounts, gifts and fun time throughout the fair. We are happy about this as it offers another opportunity to bring the best of digital TV experience, both for interesting content bouquets and innovative decoders, very close to the people.”

  • Festival of ideas, innovations

    Festival of ideas, innovations

    More than 3,000 students from 34 countries participated in the 2015 ENACTUS World Cup Challenge held in Johannersburg, the commercial nerve-centre of South Africa, last week. The event was a celebration of ideas and innovations, reports  WALE AJETUNMOBI, who was a member of the judges’ panel.

    FOR South Africa, it was a first. Among all countries in Africa, it is the first to host the World Cup Challenge of Entrepreneurship Action In Us (ENACTUS) – a global network of students in free enterprise.

    Sandton, a social hub in Johannesburg in the Gauteng Province of South Africa, literally stood still last Wednesday for the 2015 ENACTUS World Cup, which was attended by more than 3,000 students from 34 countries in six regions of the world.

    Chiefly sponsored by KPMG International, a renowned global auditing firm, the ENACTUS World Cup was held at the six-storey Sandton Convention Centre opposite the Nelson Mandela Square.

    The 34 participating teams, which won the national league in their countries, qualified to participate in the international contest, where they explained how their entrepreneurial interventions have changed lives in the world’s urban and rural communities.

    They defended their projects before a panel of judges comprising a large group of international business leaders, academics and professionals.

    ENACTUS is a global network of students using their innovations and business ideas to address human challenges worldwide. The aim is to improve life in an economically, socially and environmentally sustainable way.

    The event started with a cultural exhibition during which each of the participating countries showcased its arts, cuisine and traditional fashion.

    Nigeria was represented by students of the Federal Polytechnic, Kaduna (KADPOLY). Members of Team Nigeria wore attires, portraying the traditions of the country’s three major tribes. They entertained participants with cultural dance steps as they moved round the Exhibition Hall, beating talking drums.

    They also prepared Nigerian delicacies, which they served their colleagues from other countries.

    The Senegalese team showcased a local seasoning, which, they said, could be used to cure diseases, such as tuberculosis and infertility. Their Japanese counterparts displayed a biscuit they said could be used to cure spinal cord pain.

    The cultural exhibition was followed by the event’s formal opening by President of Unilever in North America, Kees Kruythoff. He described the event as historic, being the first in Africa.

    Kruythoff, who is also ENACTUS Board of Directors chairman, said: “We have gathered here today, bringing our unique cultures on display to promote our diversity. But, one thing we share in common is ENACTUS, through which our shared values of integrity, innovation can be a positive forum for change in the world.

    “The importance of business to society cannot be more relevant than today as we live in a world traumatised by insurgency, conflict and the likes. My great encouragement to students is to continue to be a positive force in the society. You must listen, learn, share and most importantly lead.”

    The guest speaker and chairperson of African Union Commission, Mrs Nkosazana Dlamini-Zuma, described Africa as a continent of immense opportunities. She said the innovations exhibited by the students had transformed the lives of millions of marginalised people and opened windows of prosperity for African women.

    She said: “African entrepreneurial spirit is alive and thriving today more than ever before. Opportunities abound and positive spirit is seen among the young people in many African countries. There is almost the same number of women and men who are entrepreneurs, especially the young people in countries like Ghana, Nigeria and Zambia.

    “Overall, Africa has higher proportion of women entrepreneurs compared to other regions, with Nigeria and Zambia boasting about 40.7 per cent to top the United States (U.S.), the United Kingdom (UK), Norway and France.”

    Despite the growing economic independence of African youths, Mrs Zuma said many young entrepreneurs were facing challenges of finance, land and opportunities to grow their businesses. She urged the world’s business leaders to help sustain the tempo of entrepreneurship among women and youths.

    Global Head of Citizenship of KPMG International, Dr Michael Hastings, said the ENACTUS students deserved praise for taking up the United Nations (UN) goals and making efforts to achieve them.

    He said: “From 2015 to 2030, we have a task to bring dignity to two billion people on our planet living without sanitation, water and those struggling with curable diseases and the multitude who are dying of malnutrition. We have got one great chance in 15 years to bring dignity to those outside the freedom and opportunity.”

    The Nigerian team met other League 4 teams from Morocco, Senegal and Poland in the opening round.

    Renewable Energy Advancement, one of the two projects presented by the KADPOLY students was adjudged the best.

    The electricity project involved the use of recycled materials to construct a Hydro-power System that generated electricity to serve Sabon Kakau village on the outskirts of Kaduna, which went without electricity for over 50 years. The project was adjudged to be sustainable and environmentally-friendly.

    The Nigerian team qualified for semi-final along with U.S., India and Germany. Their performance excited officials of the Nigerian Embassy in South Africa, who hosted them to dinner at the embassy on Rivonia Road in Johannesburg.

    Receiving the team, the Acting Consular-General, Alhaji Mohammed Zanna, hailed the students for making the country shine at the event. He said: “You all have demonstrated the resilient spirit which Nigerians are known to display in the face of challenges. We are proud of you and we will continue to support you.”

    The challenge entered the semi-final on Friday and Nigeria lost to the U.S., which qualified for the final in League 3. Other teams, which qualified for the final, were the UK, Morocco and Korea.

    UK team, represented by students of University of Southampton, emerged champion for their project, tagged: Red Light, which focused on reducing respiratory illnesses in Africa and empowering young entrepreneurs to develop a solar lamp rental company.

    The American and Moroccan teams were the first and second runners up. The U.S. team, represented by students of Brigham Young University, Hawaii, presented a project tagged: Cacaonomics, which involved empowerment of cacao farmers to boost their productivity and improve their livelihood.

    Also, the Moroccan team, represented by students of Mohammedia School of Engineers, presented a project tagged: Breathe, which tackled domestic air pollution by developing ecologically-friendly briquette from recycled materials, and a cooking stove that aids combustion.

    The Nigerian team lost in the semi-final. Director of SAHARA Group and Vice President of ENACTUS Nigeria, Mr Tonye Cole, said the project presented by KADPOLY students brought innovative solutions to the basic challenges of communities in Nigeria.

    He said the Nigerian team deserved to win the contest, stressing that it had brilliant ideas but lost out because of improper documentation of the successes of the projects. He praised the students for their performance.

    Zam Obed, a final year Accounting student and leader of the Nigerian team, said the team could have won if it had gone past the semi-final. He said the team’s projects focused on water and energy, which he described as “essentials of life”.

    There was a party to round off the event, with the students and judges having an opportunity to network and build relationships.

    Other members of ENACTUS Nigeria at the event included the Country Coordinator, Michael Ajayi, Head of Media and Publicity, Mrs Elizabeth Okwoho, and Director of Finance, Fundraising and Administration, Ms Sophia Bekwele-Orlu.

  • Leisure Mall introduces innovations

    Leisure Mall, a new mall with spectacular views and with a goal to be positioned as the destination of choice for families in Lagos -Mainland, is now linked with its immediate mall, Adeniran Ogunsanya Mall.

    The ‘link bridge’ between the malls is to take shoppers from one mall to the other without stress and hassles.

    According to the Centre Manager, Leisure Mall, Mr. Seyi Shoyinka, “The link bridge between us and our neighbour is first of its kind. It is interesting to know that this provision is available only in Mainland-Lagos.”

    Explaining the need for the innovation, Shoyinka said the link bridge is to ease movement for shoppers from one mall to the other and establish a lasting relationship between the malls.

    “To initiate an easy access between Adeniran Ogunsanya Mall and our Leisure Mall, we decided to introduce a link bridge. This initiative is hundred percent ours. Now, customers can shop between the two Malls without the hassle of driving or walking through the gates. We saw the need for a symbiotic relationship with our neighbour and the importance to make our customers more comfortable,” he said.

    He added that enthusiasm and curiosity by shoppers to visit the other mall when already in one will come to play with the newly introduced link bridge.

    “The tendency to visit the next mall is bound to happen with this innovation. Also, we want to be able to benefit from each other. There are certain facilities in one mall that are not in the other. For instance, our film house (Cinema) is unique with us as well as our major clothing outfit (Mr Price).”

    The  mall, which has been in  operation in less than two years, is said to be fast becoming the best family entertainment centre in Lagos. Surrounded with  misted glass exterior and interior open-air walkways, the mall looks more like a cutting edge modern art museum than what it actually is. It’s not surprising to know that it is managed by Broll Nigeria, the largest mall property operator in Africa who also manages the grade A malls in Nigeria. These malls are; The Palms in Lekki, Ikeja City mall in Ikeja, Bayaro Mall in kano, Ceddi Plaza in Abuja, Kwara Mall in Ilorin, etc.

    Leisure Mall houses various top brands, among whom are; Mr Price, Standard Chartered Bank, Film House cinemas, Bheerhugz Café, GNC Drugs, Accessories to die 4, Barcelos- Fast Food, Eddie kingburger- Fast Food, Easy holiday- travelling agent, Lego shop- toys, Nike- clothing, Scouzas, Deep Arg, Blucocktail, SOS, Milavin, HomeNail, Nireds, Indulgence, HitBox, Fome, River Jordan, Poise Global, and TM Lewins.

  • ‘Innovations, service delivery ‘ll drive Vitafoam’s growth’

    ‘Innovations, service delivery ‘ll drive Vitafoam’s growth’

    Innovation and excellent service delivery would be the key drivers of Vitafoam Nigeria Plc in the years ahead as the foam-manufacturing company seeks to optimise the potential of its recent investments and expansions.

    Chairman, Vitafoam Nigeria Plc, Chief Samuel Bolarinde, said the company would focus on products innovation and excellent service delivery to sustain customers’ loyalty and continuously grow its market share irrespective of the uncertainties in the operating environment.

    He noted that though the prevailing uncertainties in the global economy and national economic outlook might impact on business operations, the company would continue to leverage on its brand capital and group synergy to ensure that it remains resilient in the years ahead.

    Bolarinde, in his final address to shareholders as Chairman of the company, assured shareholders on the prospects of the company citing various investments and expansion initiatives in Nigeria and beyond that would consolidate performance in the years ahead.

    According to him, the company’s strategic investment in Vono Products Plc looks promising as Vono has truned the corner in its restructuring exercise and now poised for better performance.

    He outlined that the company’s subsidiary in Ghana and a foam factory in Sierra Leone billed to start operations in the second quarter would gradually open up the West African market to the company.

    He further noted that various Nigerian subsidiaries of the company have also made encouraging progresses that should consolidate into better performance for the group in the years ahead.

    “As we begin to consolidate the gains of our various investments, I remain hopeful that the company will attain greater heights in the future,” Bolarinde said.

    He said several pace-setting initiatives are being implemented to maintain the company’s market leadership including the fine-tuning of the company’s comfort centre model to meet international standards and online virtual sale shop and anti-fake automated confirmation system.

    He, however, lamented the negative impact of the spate of insecurity in the country on business operations pointing out that the volatile operating environment adversely affected free movement of goods and services, thus resulting in significant decline in commercial activities.

    He decried the prevalence of corruption, which had denied Nigerians and businesses opportunities to have fair shares of national economic development.

    Audited report and accounts of Vitafoam Nigeria for the year ended September 30, 2012 showed that the company struggled with sluggish sales and fast-paced finance costs. While it mitigated weak sales by reducing related costs of sales, margins and returns were depressed by the stifling midline, directly related to huge increase in finance costs.

    Gross profit margin had improved from 30 per cent to 35.5 per cent. However, pre-tax profit margin slipped from 5.7 per cent to 5.6 per cent. Return on total assets declined from N8.9 per cent to 7.8 per cent while return on equity dropped from 20.2 per cent to 18.1 per cent.

    Total sales stood at N14.48 billion in 2012, a slight decrease from N14.52 billion recorded in 2011. Cost of sales meanwhile dropped by 8.2 per cent from N10.17 billion to N9.34 billion, lifting up gross profit by 18 per cent from N4.35 billion to N5.14 billion. Total operating expenses increased by 16 per cent from N3.35 billion to N3.91 billion.

    Administrative expenses had risen from N2.51 billion to N2.96 billion while distributive costs increased from N840.1 million to N945.2 million.

    With 51.7 per cent in interest expenses from N357 million in 2011 to N542 million in 2012 and substantial decline in non-core business incomes, profit before tax dipped slightly by 1.2 per cent from N824 million to N813 million. After taxes, profit distributable to shareholders also slipped by 1.8 per cent from N567 million to N557 million.

    Earnings per share took cue from net profit after tax at 67.9 kobo in 2012 as against 69.1 kobo in 2011. Net assets per share meanwhile improved from N3.42 to N3.76, an increase of about 10 per cent. The company retained its cash dividend per share of 30 kobo for the third consecutive year, earmarking N246 million for distribution to shareholders.

  • ‘Supporters Club plans innovations to lure fans to NPL’

    ‘Supporters Club plans innovations to lure fans to NPL’

    Rafiu Ladipo, President-General, Nigeria Football and Other Sports Supporters Club said on Wednesday that the body was making efforts to lure fans back to match venues of the Nigeria Premier League (NPL).

    Ladipo told the News Agency of Nigeria (NAN) in Lagos that the nation’s football league had suffered enough neglect over the years due to inadequate facilities.

    “We have innovations which we want to introduce to our premier league, to attract fans to our stadia and encourage our players to work for victory. But I do not want to let it out now for it not to be stolen, but by the time we do it, you will see that our stadia will be packed full at each match,” he said.

    The president-general said the club would, however, not discourage Nigerians from watching European league matches, but would also encourage them to be ardent followers of the NPL.

    “We will encourage Nigerians to watch Nigerian games just as we will not discourage them from watching European leagues either,” he said.

    Ladipo added that the club had the mandate to give adequate support to all sports, as well as to promote the ideals of the country.